If you’re funding a project with a fix and flip loan you want to be able to complete your renovation in a timely manner. Here are some tips to help you stay on track.
The longer it takes you to complete a fix and flip the more money it is going to cost you. Property taxes, HOA fees, utilities, and loan interest can eat away at your bottom line. There are some ways to help you complete your renovation on time and pay off your fix and flip loan quickly!
Put Together a Team
Investors will tell you that you’re only as good as your project team. Your project relies on the ability of your contractors to complete their portion of the renovation on time. Beyond your go-to renovation specialists you’ll want to have an attorney and a real estate agent on deck.
Don’t Bite Off More Than You Can Chew
It’s important to choose your fix and flips wisely, not jumping feet first into a renovation that’s going to require vast structural updates. Cosmetic rehabs are the way to go, especially when you’re starting out. Unexpected issues are sure to arise, but if you can avoid large anticipated construction costs, you’ll be far better off.
List Prior to Completion
Another way to ensure you’re not sitting on a property too long, eating up your funds, is to list the home prior to your project completion. Focus on big areas like the kitchen and living room and complete other rooms or the landscaping as it’s on the market. Finishing touches can be completed prior to close.
Last, but certainly not least, the most important part of a renovation timeline is getting your project funded quickly. That’s where a hard money lender that provides fix and flip loans comes in. Level 4 Funding can fund a loan in as little as week if the investor provides the proper documentation up front.
We are more than happy to schedule a time to speak with you about your upcoming renovation and provide you with the fix and flip loan to make it happen!
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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